Quarterly report pursuant to Section 13 or 15(d)

Marketable Securities

v2.4.0.6
Marketable Securities
 9 Months Ended
Sep. 30, 2012
Marketable Securities [Abstract]  
Marketable Securities

3.  Marketable Securities

 

 

Cost and fair value of the Company’s marketable securities are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost

 

Gross Unrealized

 

Fair

Securities available-for-sale

 

 

Basis

 

Gains/(Losses)

 

Value

    September 30, 2012:

 

 

 

 

 

 

 

State and municipal obligations

 

$
100,000 

$

 -

$
100,000 

 

 

 

 

 

 

 

 

    December 31, 2011:

 

 

 

 

 

 

 

State and municipal obligations

 

$
1,950,000 

$

 -

$
1,950,000 

 

 

Amortized cost and fair value at September 30, 2012 by contractual maturity are shown below.  Expected maturities will differ from contractual maturities because the Company may redeem certain securities at par. 

 

3.  Marketable Securities (cont’d)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost

Fair

Maturity

 

Basis

Value

10 years or more

 

$
$
100,000 

$
$
100,000 

 

During the nine months ended September 30, 2012 and 2011, the Company sold $1,850,000 and $8,500,000, respectively, of securities at par and the total amount that was reclassified from accumulated comprehensive loss into net loss was $0, and $3,960, respectively.